When you look at the 1950s South Korea had an underdeveloped, agrarian economy that depended greatly on international help.
The military leadership that emerged into the very early 1960s and led the nation for one fourth century might have been autocratic and, on occasion, repressive, but its pragmatic and versatile dedication to economic development led to what became referred to as “miracle regarding the Han River.” Throughout the next three years, the South Korean economy expanded at a typical annual price of nearly 9 %, and per capita earnings increased significantly more than a hundredfold. Continue reading “Allow me to inform about Economic and social developments”